>> what they are doing. they are bonding and bonding. neil: you can only do that so long. >> where are the bond vigilantes. neil: you can only do that game for so long. you can't keep -- >> they have been playing ponzi schemes for generations. neil: it is time to stop. >> the governors will continue kicking the can down the road. neil: i don't know, they will realize bondholderring will get to the point, say no more, we're out of here. >> you have seen some pieces of democratic coalition where unions big pieces fall apart looka chicago with rah rahm emanuel had to deal with the teacher union over the summer. so unions within democratic coalition face push back because there is a realization these are

unrealistic demands. neil: what applies to corporate america to apply to public we'll see, thank you very much, in the meantime, i want to remind you about your special coverage tomorrow night of president's state of union address, marco rubeo, and we'll be gauging the market reacted. 3 hours of best coverage you can get anywhere, truth be told, i work at fox news, but brit bare is watching -- brett baier is watching, he is watching me, who can blame him? tomorrow night, see you.ave a sg problem. also my take on why the post office is in dire straits, and what should be done to fix it.

and "consumer reports" find some small green car engines do not deliver on fuel economy claims, the willis report is on the ca case. gerri: all and that and more coming up later in the show, but our top story, one of our nation's heroes abandoned, new details on navy seal who shot and killed osama bin laden. "esquire" magazine and center for investigative reports released a 27 page artile today with fresh details on raid, what happened to bin laden's shooter after retiring last settlement. here is troubng headline of the article, the man who killed bin laden is screwed, why? the former navyeal, who to this day remains annonymous said

the military stiffed him, he is out on his own, no pension, no healthy care and no protection for his family, joining me now, the ceo of concerned veterans for america. i want to read you something fromet desire -- esquire magazine article, i know have you questions about the reporting, what is much harder to understand, is a man with more than a hundred successful war missions who capped his career by terminating bin laden has nolanding pad in civilian life, nothing, no pension, no health care, no protection for himself or his family. and this story, this long story, interviews him at length he talks about how he has no health care, no pe pension, he was in service for 16 years, admittedly he left early but now nothing. what do you make of that?

>> well, i tell you, i read the whole story it is gripping and a powerful depiction of the difficulty of transition into civilian life this guy put two bullets in head of osama bin laden. now he is transitioning into civilian life and looking at the difficult -- amongst elite soldiers, navy seals their lives have been classied as secret missions, now his life would be threatened if his name is known, a whole other set of circumstances. gerri: this is guy that president described as the best of the best? everyone in obama administration had nothing b accolades for this group of guys, here is the guy whoin manages to take down your number one enemy. and we can't take care of him? we could spend tens of millions of dollars, "zero dark thirty" so books have have been out on this raid, but this guy, we can't help him? >> you know, he is exempt larry

in many ways of bloated bureaucracy that our guys face. these are big, government insteads meant to trachsoldiers coming off of the battle feel and transition them, they wait in long lines issue they don't get the care they need, they don't have enough mental health professionals, all they face when a bureaucracy consumes itself. >> here is what the president, barack obama said, here is his promise to veterans, no one who fights overseas for this country should ever have to fight for a job, not just a job he is talking bhe is talking about basics, health care, a career in service, what does he have to show for it? nothing, how would you rate the job we're doing in this cntry for our veterans right now? >> not good enoh. because we have got over 900,000

waiting in line for their claims right now at the va, because the guy like this does not know where to turn, the v.a. provides 5 years of combat health care for a guy like this, there are ways for transition assistance but a lot of people fall through the cracks, the system is full of holes we pump more money into problem without fundamentally reforming the way that va does, have you a pencil and paper bureaucracy in many places, they do not transition smoothly. from department of defense, have you look at department of veterans affairs and say, we're going to change the way we do business, because we should be customer focused, to a guy like this who served his nation for 16 years, he could have waited to 20, but it does not change what we owe him. >> we owe him a lot, his wife said she is thinking about changing her name there say huge danger for them, right, you know, if anybody finds out who

they are, they have a bolt bag in the house to run out at any time, they live in fear, with no help, i think it is, just embarrassing and it is a shame. we should do better. >> not the -- it is not the way it should be, we did a tour, called the we can do better tour, we can for veterans and we must. gerri: a bloodure having you on, -- pleasure having you oif you hear anything well, it let us know, pete. >> you got it. gerri: meanwhile, a showdown is brewing between california and texas over who state is better for business, texas governor rick perry sends out ads inviting businesses from the golden state to head down south because building a business in california is next to impossible, perry is also visiting th the golden state ths week, our next guest says he understands perry's flight. joining me now, republican

assembly plan dan lowe, i have to ask you, we saw your piece, but how do you feel about rick perry coming into california, to steal your companies? >> well, it is not about rick perry. it is about why do we have the door open for every governor in the country to come to california to take businesses back to their state. colorado is opened up offices, arizona opened up offices, it is like, you know the low hanging fruit. if you want to build a business come to california, go back to nevada. rri: you know, we're seeing people with businesses leave, we're seeing wealthy people leave, because have you that incredible income tax now. why -- what is the point of staying, this is your state, can't you defend it? >> well, we would defend it but you defend it by fixing it. the businesses and the small businesses of california that pay for the roads, the bridges, and infrastructure and law enforcement. when you have state age agent

that rule with iron 50s that findusinesses and hunt them instead of trying to help them, the culture in california is hostile, a survey was done 69% of businessessin california believe it is unfriendly to do business in california, they are voting with their feet, we have to stop it. gerri: you wrote some funny lining in your column, said, the case for california when it comes to thaksi shinawatra, california home of the nation's highest maxes on businesses, but we do have disneyland it is cold comfort. >> it is iesting, an old saying, you can't be for jobs and against business unless you want to move the capital to disneyland, bottomine, common sense will prevail. if you want to grow the ecomy, you have to allow the people of california to prosper. the best way to do that for california is get out of the way

if we do -- >> dan your governor has done the opposite, all he seems to do is raise the hurdles, raising taxes, making government bigger not smaller, should you be headed in opposite direction? >> yeah the bottom line is that the biggest problem we have is we have sacramento has handed over a lot ofs this authority to state ancies who are not elected, regulatory agencies who look atusinesses as atm machines instead of trying to help them, i met governor perry t two years ago. businesses that left california, one testimony was said that, you know doing business in california was a date of a thousand cuts. >> wow. you mentioned that california's number one in something you wish you were not, which is poverty, you know, you look athe results of the kind of policies your state has followed for years, and years and years,

people get hooked on this public money. and that is only way they know how to survive. >> we have 12% of the population of country, we have 34% of the welfare. bottom line, it is unsustainable. we need to create opportunities in california where we could grow the economy, but the last year the couple years ago there was a study that said it cost the average person in california average small business $40,000 a year to pay f regulatory impacts. gerri: wow. good lord. that is ridiculous. i really do not see why p people stay in california. it is a beautiful state, but the cost of doing business is so high. and not just business, cost of living there is through the roof. appreciate your beingo sand edand talk -- candid and talking with us, thank you, dan. >> thank you. gerri: wow. iexpensive, a lot more to cam, including shockin shock commentm

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gerri: the u.s. postal service on moving to cut service on saturday is being met by shock. today, 25 members of congress' new york delegation sent a letter decrying the move, some were republicans some were democrats, truth is the smarter move in cutting service on saturday would be to cut service monday through friday, and be open saturday only, postal service is broke, no matter how much hammering there is in congress we can't afford it, if

things keep up this way, we know they will come for a taxpar bail out, in final three months of last year, the postal service lost nearly 1.1 billion, it losing 25 million-dollars each day. in truth, usps is biggest pay patronage system in the nation, their wages and benefits comprise 80% of the usps operating expenses, 4 out of 5 operating dollars goes to wages and benefits, compared to 32% for fedex, that is not a recipe for success, the u.s. postal service sun sustainable, -- is unanun.

newspapers were sent by mail, they say today to provides a unravelled community for community members to getting it, today there are 32,000 post offices and 313 million americans, instead of one of serving 53,000 people as it did in start of the republic, one office serves less than 10,000 folks bloat, waste, excess are hallmarks of the post office, when i want community i don't go to the post office, i go to chur, i get on the e-mail or telephone, the most profitable businesses have moved to fedex, and ups and the internet. even first palace mail service is declining down 4.5% last quarter. only thing they deliver to my house is retail catalogs, they clog my mailbox. and that is not a business i think that federal government should be in.

down side the post office or close it, we can't afford to bail it out. cong up at bottom of hour, a preview of tomorrow's state of the union address with grover norquist, and top republicans to house saying sequestration scheduled for next month are going to happen, is that a good thing for america, i'll ask congressman james land ford next, right there he is, my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dream go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side.

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gerri: some republicans say looming automatic tax cuts are happenin

gerri: time is running out to avert the automatic spending cuts, but there is growing talk on capitol hill happening, with more republican congressman james langford of oklahoma, welcome back. i'm hearing that this will go through, the republicans have gotten on the same page, sequestration will happen. what happened to the naysayers? >> well, at the end of the day we have to cut spending, that is the real issue, worse way to do it is across the board, but that seems only way is that washington gets a cut, reality is government has grown 40% in last 5 years. this is a 2% cut of government off of 40% growth, while it is dram at nick some budget line -- dramatic in some budget line items but not across the board. gerri: you say it is going to happen, fred upton said the same thing, people like john mccain do not want to see it go through, how do you bring it in

line. >> none of us want to see across the board cuts specific line items of bloated, and others that are close to efficient. so we would see targeted cuts, and long-term and hande mandatok out how do we get out 20 years from now and continue to save. you save for a couple years. we would rather gat it fantastic decade. gerri: talking about sequestration, here is fred upton. >> it has to happen, without an alternative in house last year with speaker boehner and canter we passed in the house two different bills with spending offsets on the sequester, the senate did not take either one of them up. we are now left in a position of this sequester that is going on testimony. gerri: it occurs it is likely to get scare tactics out of the obama administration, if

republicans are onboard, warning people of all bad things that will happen. do you think that will happen? >> i do, it has already happened, first thing they will say is, ty will have to close down the u.s. air force, and shut down marines, and no longer have the things, it is always the worse case scenario first, there are -- what is called accounts that are out there that money that was not spent last year that can be reduced in military this year, multiple accounts, that can be reduced, is there a better way to do this, yes, but your focus on to get to serious business, there is a huge tax increase that happened a few mons ago, i remind people, 2014 is to be -- 201313 is t2013 largest amount e coming in but wre still short in budget. gerri: from my point of view we're back to revenue levels prerecession, now why you can't

run our government on that, it just for the life of me i don't understand that, why can't the federal government be run on 2007 level revenues, what is the problem? >> two, one is baby boom, we have 10,000 people a day that retire. gerri: we knew it was going to happen. >> i'm amazed i came into congress two yea ago it was like no one heard of the term baby boom, we watched it, it has been predictable. the second part is stimulus of 2009. there is a huge plus up in all of different accounts that has never come back down. we're spepending a trillion a yr more now than what we were 5 years ago our proposal, let's get our spending back down to 2008 level, and allow it to grow to inflailing. >> i have to ask you, about a spending issue, that is entitlement. today, white house press secretary jay carney, aol

automaticky ruling out any provision to raise medicare, did know a person promise they would going to be on the table, don't we talk about this. this is the big nut, the thing we have to tackle. tackle -- going back 30 years ago, reagan and tip o'neill came to an agreement to increase retirement age from 65 to 67, 30 years out with a slow progression to get there we don't have 30 years, now it is close, we have 16.5 trillion. we can't wait that long. if congress planned for this 10 years ago we could have had a lead up to it people struck with fact that social security of designed when 65 of life expectancy, it was said to be an emergency incase you out lived your other retirements, we have get back to basics of safing for your retirement and having your safety net there.

>> that calls into question, a lot of other issues that we'll have to talk about another time, like having an even playing fields in stock market so people can save for retirement. congressman lang ford, always good to see you, i'm sorry i blame you for all of congress' ills. >> there are a few working on it, thanks. gerri: thank you. coming up, how you may have paid for more your mortgage or auto loan than you should have. tomorrow is the president'ss3 state of the union address, is it too late? i'll ask norquist after the break.

>> in getting rid of expensing like all companies have, targeting a special industry not a special deal will companies have. if you get rid of the existing deductions and credits that should be there , if you spend the money, then you never did tax reform. we need deductions and

credits to be scaled back. gerri: when will that happen? >> another four years. >> another president. gerri: he could double down on raising taxes in the "state of the union"? >> i think so. that is all he talks about. raising taxes, never reduces spending, no real proposals to reduce or reform entitlements. when he went to grade school they did addition but was not there when they talk subtraction. [laughter] gerri: talk about pivoting the change in tone and jobs and the economy. take a look at the headlines.

usa obama puts renewed focus on job creation. january 28, 2010 "san francisco chronicle", "politico" 2011, and the obama tidbits and it tears the g.o.p. >> and also obama -- obama to focus jobs and "the washington post" february february 10, 2013, obama up its back to the economy. >> the president spent almost $1 trillion of stimulus spending and thought that would create jobs and retake $1 from one person and give it to somebody else there were $2 they were taxing and spending money to make us richer. we never had a recovery summer but the president talks about going back to

jobs which means additional stimulus spending. gerri: so that means more federal spending. look at the chart. is higher, we have had no attraction despite the jobs council, stimulus spending, that didn't work. as a just a matter of confidence or something else? >> all the regulations his administration spent drafting, they said it would be better not to show them to the people after the election we have for years of those job killing regulations coming out. any regulation that makes sense, that happened last year. the stuff they said the people would hate it, that is what will enroll over

four years. gerri: obamacare, of the environment. >> the good part of dade.up front that will make you wait longer in line to go to your own doctor or the emergency room and all insurance rates will go up. gerri: you cannot even get a doctor today. great to see you on set. edges are not just about wing of the agenda but it is about politics made all the more infuriatingly with those standing ovations going on and on that is one of the things that bothered kay bailey hutcheson. >> one of the best things about not being in the senate anymore is not having to sit in that room and

stand up and clap every 15 seconds or senator hands i wish we had a moratorium -- moratorium and elect a buddy listen like the people around the country. gerri: what do think? should this innovation be banned? log on and vote will share the results of the news this show. problem makes it launder but tonight stop by if the longest televised state of the union. number five, and gerald ford around 45 minutes on average so august 1976, 50 minutes. number four, george to be bush on average 53 minutes of the 2003 just messed the one hour mark by 22 seconds

member three lyndon johnson was about bush but in 1967 he talked for one hour 11 minutes. number to president obama averages one or five minutes we will see if he is true to form a and number one bill clinton doing individual speeches you have the top four longest addresses in history and average one hour 15 minutes. the first of the union is the shortest, less than 10 minutes for a george washington had it right if there is a tv camera around from taft his work around 22,600 words wealth and soon as was 7400 we will have complete coverage on fox

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gerri: fox business alert in a story first reported by charlie gasparino, nasdaq has been talking with carlyle group about taking the exchange private, however charlie reports that talks broke down possibly over price disagreements, it was weeks after nyse said it was being bought by international congress exchange. -- continental exchange, is your credit respect wrong? a new study finds one in 5 americans has an error on their credit report, some are significant, here is weigh in ryan mack. president of op optimum capital

management. >> a lot of individuals are not following through and getting their annual credit report, a lot of individuals more than 90% have yet to get their free report they have access to. gerri: before you go further, annual credit report.com, the place to get free one, don't go anywhere else or you pay money for service, annua annualcreditreport.c. >> it is about not what you can control but what you can't control, yo condition control hn -- can't control human error, these are people putting these in, if your name is a jr., and your father has the same name, we've seen a lot of cases with individual father have their bad credit their report, if you moved or relocated, they have not kept up. gerri: ryan, look, if i made as

many mistakes as they make i would not be employed. why do people buy this information if it really not accurate. >> the corporation has a monopoly on credit. in terms of how they monitor, there is no other place to go. you can try to use vantage, but then you use vantage, you are not going to beble to get a loiloan for your home, not necessarily most productive system or best system or fair system, but it is what we have to dolto deal with. gerri: every couple of years, federal trade commission does this report. congressional ways gets involved, there is some congressman out there getting his name in the papers complaining, these people take advantage of studies, they get the benefit of studies, they have not changed what they are doing, same problem continue to exist, they don't make changes to their reporting, and this

reports is critical to consumers, it determines what you pay for a loan for a mortgage, we'll have to pay if you go out and borrow money for any reason, sometimes whether you get a job, whether is it going to come down to brass tax, and instead of another surprising report from the federal tread commission, someone will make a change. >> this is what people should do, a two prong approach, first we have write your congressman and your senator, complaint, and express your voice, say you need to force the individuals to change, second you have to go to print out you'r your free credit report, then you looka turf, and say let me figure out how i can make my own case. get these removed, once they get then send a litter of dispute, assert tied let ter of dispute,

-- le letter, wait 30 days, if y don't remove it, ask them to put a file to say we would like to get this stated because a lot of lenders. >> stay on it. . >> you are doing a great job, i am just so frustrad with this, they do this report, like every two years, and results will always the same, get your free credit report, document all errors send a dispute, and keep after them, right. >> you have to, i want to tell individuals if someone tries to say, charges you srs $ 600 to cy credit, run away, do-it-yourse do-it-yourself, there are tons of free resources for individuals. >> thank you, brian. >> thank you. gerri: all right, whether people stop out street and ask you for the time, do you reach for your starsmartphone instead of checkg

your watch. now your watch may be your smartphone,arard according to wl street apple could be ready to release a device that could be a smartphone. >> when it comes to apple, expect the unexpected. >> and still to come, mywo cents more on a slam to sandy victims, and they promise to be greener and more fuel efficient, why are these little engages getting failing grades, an -- little engines getting failing grades, answers coming up. clients are always learning more

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gerri: saving money on gas is momportant than ever but a new study suggestions you are not getting bang for your buck that new autos claimed on their turbo charged engines, welcome back, have you a big study on this. tell us your findings. >> well, over the last several %-vehies that have new smallf

displace am turbo chargedment in that promise power of a bigger engine the fuel economy of a smaller engine. gerri: what did you find? does it work? >> well we've been finding is several of the cars actually don't deliver better fuel economy despite the claim. at least in "consumer reports." instead we're seeing is there are a number of competitors that offer traditional engines that offer better fuel economy. >> i see that people are paying as much as $300 extra or turbo charged engines should they just avoid them? >> consumers should take time to do their own research rather than rely on word of mouth or marketing. there are a few such engines that do a little bit better, but, for most part, there are several cars and every category that offer exception at gas mileage, and far better than whatever is being traded in.

gerri: i want to start with losers, the worst offenders, you say they are ford fusio. >> we're surprised. the ford fusion with 1.6-liter engine, a small engine, we found that fuel economy did not live up to the epa claim of 28-miles a gallon, and our test it got 25, which is easily bested by new rival, the honda accord. which gets 30-miles a gallon our test. gerri: ford is disputing you, saying you are all wet, not true, but, at the end of the day, people are making purchases, they are doing something good in theer markets but there is no payoff for, that how do you respond to what ford is saying. >> we know results they vary, we're finding in ourtivity, we think they more simulate what people will experience in real world, key to make sure purchase decision with all information

available. gerri: whooes this epa estimate anyway? is this company -- >> ape fuel economy figures, what you see on window stickers in advertisement that is supplied mostly by manufacturer, ep is itself conducts abo 15% of the test 92 that is disappointing, you do like one of these engines, i believe that is a bmw . >> the bmw x32-liter turbo delivered better fuel economy than outgoing 6 'proves that turbo can work and work welt results may vary. gerri: watch outor turbos, jeff thank you. >> thank you. >> to to this day in business history this day, in 1968, world's most famous arena madison square garden opened. and after being moved to 40th time oldest major sports facility in new york city area.

located between seventh and eighth avenue, situated atop penetration, following a multimillion dollar two year renovation project, it is ranked one of 10 most expensive stadium venues ever built. garden hosts 320 events a year from, concerts to pro tennis, it home to new york rgers, and oldest arena in nhl, and home to new york knicks, and second old est arena in nba, and third busiest music arena in the world in terms of ticket sales, opened on this business day, february 11, 45 years ago. like it has been around longer, 'll be right back with my two cent morse and my answer to question of the day, should standing ovations be banned at the state of the union? the state of the union? , they should, com today is gonna be an important day for us. you ready? we wanna be our brother's keeper.

what's number two we wanndo? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attentn on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers.

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was a moratorium n standing during the sip of the union address the people at all good just listen and not endorse the incredible partisan grandstanding. what do you think? here is a sum of your posting. no, people should be able to express their disapproval, even if i disagree with what they are provg up. and yes, along with grdstanding, showboating, bloating, arresting, and sleeping. we also ask this on gerriwillis.com. 88 percent said yes. call percent said no. here are some of your e-mails. thank god for the 22nd amendment. the abomination in the white house is now a lame duck and cannot run again. archie from indiana agrees america is supposed to be a land of opportunity. the problem is under president obama it will cost you dearly after you achieve success. i don't blame phil mickelson or anyone in that position for making big changes. our government is penalizing people for being successful. they cater to